St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-24
On the Chicago Board Of Trade the OPEL
ing Markets Were Unusually Active
For Various Cereals.
Wheat Was Decidly Strong and Higher,
and There Was Considerable Nerv-
BUSINESS Displayed.
After the First Squirt the Long Futures
Became Very Quiet, Although They
Held Steady.
Transactions In the Financial Circles
Of Wall Street.-The General
Quotations. 100

CHICAGO May 23.-The signal service map
was tinged all over this morning with the
blue pencil marks, indicating rainfalls. But
a close examination showed that while there
had been numerous wetting downs substan-
tial rains had been very scarce. The map
was for fortyeight hours, and If the same rain
fall had appeared on two maps instead of
one, as would have been the case any other
day but Monday, it would have created no
bear sentiment. The market once. opened,
however, the apprehension was plainly ali
ON the other side. June wheat opened at
SSAc and spurted up to SS7sc at once, not
either on any forcing from the clique
brokers. There was plenty of bear news, but
there were plainly, too, plenty of shorts, and
are, tits said, only 357, 900 bushels of con-
tract wheat. From Duluth last week S39, 600
bushels of wheat were shipped. The walk
ing was all done by the shorts from the start
the clique brokers apparently doing nothing
The early guesses on the visible supply were
for
DECREASE IN WHEAT
of about ], 800, 900 bushels. This was not as
large figure as the bulls would have liked
and were hoping for, but it was large enough
not to serve as a bear argument. The ex-
porters said that there was temporary pause
in the foreign demand. r. G. Mccormick d
Co. had offered two cargoes at led decline
without getting taker. But 1t is explained
that foreigners have now bought so freely
that their anxiety is a little relieved, and they
are prepared to wait n little Stiff markets
here, however, 1t Is expected, will start them
In as buyers again. The visible supply figures,
when they were al. last made public, were
about as anticipated. Wheat showed de.
crease of only l, 4UO. 900 bushels in spite of
exports from the Atlantic ports of 9, 1884, 600
| bushels of wheat. The estimated car lots for
| Tuesday show that the promised Minneapolis
and other Northwestern wheat is EN- route to
| certainty. The inspectors estimates are
| for the receipt tomorrow Of 1856 cars OF
| wheat and 465 cars of corn. The st. Paul
| road is reported 20 have sent 600 empty cars
to have contracted to bring 200 cars of wheat
| from there every day this week This talk
| comes, of course, from the bears and the
| shorts, but the actual car lets are promised
| this week, and this makes 1t look as If there
was some truth in the prediction. But with
the exception of the great lot of spring wheat
| headed toward dfhis market, all the other
| news was bdlhsh. At New York it was said
| that forty boHtIloads of wheat had been taken
| for export. F1Ie exports of wheat and -four
last week reachadahe enormous total (1our
reduced) of 1921 200 bushels of wheat. The
| clique operatioGIs were confined TO OCCASION
ally pegging' june wheat at SSAc There
was some selling of June by the clique
houses. Gutluh?mas credited with large pur
chases of JulNsp
CnIcAeo,f Adg 23-The opening markets on
| contrast TO the dizziness which prevailed on
Saturday. Wheat was strong and higher and
there was considerable nervousness dis
played. June opened at SSAc and sold to
SSl2c almost Immediately. July and August
were actively bid for; June wheat after sell
ling up to S6lsc, reacted to S6Ac, and then
| steadily advanced 20 S6s4c. The clique did
very little after the first squirt of activity; in
| the long futures these months became very
| quiet though very steady. AS the returns
began to come in from various points in be-
came evident that the visible supply OF wheat
would not show the amount of decrease that
was predicted for il early in the season. The
early estimates were for decrease of 2 000,-
600 bu, but official returns made it
| l,450,039. The arrivals at New York
| were quite large and went long way toward
keeping the decrease down. The unsatisfac
| tory returns caused the price of June wheat
to ease off to 86Ac, the opening figure. But
i toward the close of the morning session wheat
firmed up again and June closed at SSIac.
| At the afternoon session heavy exports from
| the seaboard and higher markets at St Louis
and other points, together with increased merry
| BUSINESS among the shorts, made wheat per-
ceptibly tirmer, and June sold to soc and
closed at SS7sc. Corn and OATS owing to the
rains of last night and yesterday, were de-
cidedly weak at the opening July and Au-
| gust oats were about l2c lower than Saturday.
at 27I8c for July and &c for August. The
| oats crowd were very active for some
time after the start, and considerable trading
was done in July and August futures Later
in the day the market quieted down and July
| closed at the opening figure and August at
| 26s4c: July corn. opened at 407bc and
sold down to 30 isc in short time. Around
! this figure it was very quiet and steady until
| towards midday, when it declined to 40I3c.
! During the afternoon session it stiffened
| somewhat and closed at 4Ossc. More hogs
p5yed than e %eTe s causing July
was only temporary, and July ribs advanced
10c in the first hour of the session. July
lard, which which opened at S6;75, also advanced
sions remained rather steady during the day
| and closed at sc. 80 for July lard and SS7 35
| for July ribs.
THE QUOTATIONS..
Wheat-No May, S7l2c, Closing at sslsc;
s7lsc, closing at s77se; August, s5c, clos,
ing at s S52s: Gorn.No; May, 3sssc, clos
! 41a4c, closing at 41s4c. Oats-No. May,
25l2c, closing at 25s4c; June, 26c, closing at
gSa JULY eos a Ct eaS sss at MESS G Au
9e1 Os ssa May so,i SSs closing at s2s
per leo ibs, May, $3.50. closing at ss.65;
ing at $3.50. Short fbs-pe sp'3 100 lbs lbs.
May, $40, closing at 81. 25 June, $40,
closing at 1925; July, 81. 22l2. closing at
quiet nd unchanged Wheat-No. 2 spring,
S7la@s7ssc;- No. 8 spring wheat nominal,
| II; No. red, S1esc. Corn-No. z. 3SAc, bid;
Oats-No. 2, 25l2c. Rye-No. 2, SIC. Bar
Prime timothy seed, ST75@1.76. Mess pork,
per Dbl, S23. Lard, per 100 lbs, S6.65.
short ribs sides, loose, g.. 1 Ga IS; dry
clear sides, boxed, S76007.6 5. whisky
Distillers' finished goods, per gal. Lilo.
Receipts-Flour, 1900 bbls; wheat, Ca
600 bu; corn, $4,000, bu; oats, III
Shipments-Flour, 1000 bbls; wheat, 81, :.
600 bu; corn, $1,000 bu; oats, $4,000
bu; rye, 5000 bu; barley, $4,000 blu. On
the produce exchange to-day the butter mar
ket wasg weak; dairy d3@l1e; creamery,